MARTINSVILLE, Va.--(EON: Enhanced Online News)--Carter Bank & Trust (OTC:CARE) announced today that it has hired Richard
Owen as senior vice president and director of mortgage banking to launch
a new mortgage lending division. In this position, Owen will work to
ensure that mortgage originations and operations meet quality standards,
settlement timelines and compliance requirements and exceed customer and
investor expectations.

“We are excited that Richard has joined our team. He is well-known in
this industry with his high energy leadership style to motivate and
create a new sales culture. Our customers will benefit with Richard at
this helm”

Owen brings more than 20 years of experience in working with banks to
expand product lines and form new strategic partnerships, which have
resulted in improved revenue performances primarily in underperforming,
highly regulated and complicated business channels.

“We are excited that Richard has joined our team. He is well-known in
this industry with his high energy leadership style to motivate and
create a new sales culture. Our customers will benefit with Richard at
this helm,” said Phyllis Q. Karavatakis, president and chief banking
officer.

Before joining Carter, Owen was senior vice president of the mortgage
division for Middleburg Bank in Richmond, where he led this newly formed
division in sales, marketing, operations and compliance. Prior to this,
he was senior vice president for the Virginia Bankers Association and
executive director of the Virginia Mortgage Lenders Association.

“Carter Bank & Trust has a long-standing reputation of being the
lifeblood of the many communities it serves. I am honored for this new
opportunity and look forward to positioning the bank to offer more
comprehensive portfolio mortgage solutions to its loyal customers,” Owen
said.

Owen is a member of the Virginia Governor’s Housing Policy Advisory
Council. He earned his bachelor’s degree in business administration from
Roanoke College.

About Carter Bank & Trust: Carter Bank & Trust is a
state-chartered community bank in Virginia with $4.2 billion in assets
as of September 30, 2017. It currently operates 122 branches in Virginia
and North Carolina.